Farther Finance Advisors LLC Reduces Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Farther Finance Advisors LLC cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,905 shares of the semiconductor company’s stock after selling 135 shares during the period. Farther Finance Advisors LLC’s holdings in Cirrus Logic were worth $190,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Atria Investments Inc boosted its position in shares of Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 101 shares during the last quarter. Arizona State Retirement System boosted its position in Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock worth $1,543,000 after purchasing an additional 101 shares during the last quarter. Captrust Financial Advisors boosted its position in Cirrus Logic by 5.3% in the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 142 shares during the last quarter. Ritholtz Wealth Management boosted its position in Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 153 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its position in Cirrus Logic by 40.0% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 200 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Up 0.2 %

NASDAQ CRUS opened at $101.05 on Thursday. The stock’s 50-day moving average price is $103.48 and its 200-day moving average price is $110.09. The company has a market capitalization of $5.37 billion, a P/E ratio of 18.34 and a beta of 0.89. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CRUS. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Benchmark reissued a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday. Finally, Barclays raised their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.